According to a chart by analyst Ali Martinez, Bitcoin price might be forced beyond the $20,658 level and toward the $24,000 price line. At the time of writing, BTC is changing hands at $20,742.
Here’s How Bitcoin Price May Reach $24,000
As the weekly BTC RSI has risen over 37, according to Ali Martinez’s BTC chart analysis, Bitcoin is becoming stronger. According to Ali, a “sustained advance” over the 21-week moving average might surge to the 200-week MA at the $24,000 mark.
#Bitcoin | The TD Sequential buy signals appear to have been validated.
With the weekly $BTC RSI moving above 37, it looks like #BTC is gaining strength. A sustained move above the 21-week MA could trigger an upswing to the 200-week MA at $24,000. https://t.co/eYBb7oDRTP pic.twitter.com/fsO0hRzwY0
— Ali (@ali_charts) October 26, 2022
It is time for the most prominent digital currency in the market to move a little higher, noted trader Scott Redler tweeted earlier this week.
According to a new MLIV Pulse study, investors anticipate that Bitcoin will continue to trade between $17,600 and $25,000 this year, according to Bloomberg. Additionally, they think that the recent SEC investigations into several cryptocurrency platforms, including Celsius, Three Arrows Capital, and Yuga Labs, two of which have filed for bankruptcy, will benefit the industry. With more regulation added, respondents think the area will become safer and generally “better off.”
Read more:
- Google Searches For Bitcoin Reached Two-Year Low Indicating An Alarming Decline In Interest
- Bitcoin Price Spent Another Day Comfortably Perched Above $19,000 And Well Within The Narrow Range It Has Held For More Than A Month